UBS' director of floor operations at the New York Stock Exchange told CNBC he doubts the media's interpretation that Trump will stoke an "insurrection" if he doesn't win the election.

"What the media is thrown by is they think [Trump] may come out pounding the table and leading to an almost insurrection kind thing," Cashin said Thursday on "Squawk on the Street." "I doubt it'll go quite that far."

Trump's comment contradicts his previous statements and his running mate, Mike Pence, who said they would both accept the election results.

Some commentators have raised concerns that Trump's comments are "antithetical" to a democracy.

Instead, Cashin said viewers should pay close attention to the Alfred E. Smith Memorial Foundation Dinner on Thursday night, where Trump and Hillary Clinton are expected to speak.

"That is a big opportunity for a potential gaffe, because you're supposed to be a little light-handed, poking fun at your opponent, at yourself. Somebody goes a little too far ... that may make headlines tomorrow," he said.